2618 Trade
GBPUSD long setupMy view on sterling is that it can go up and here is 2618 long opportunity. First price must break above neck line and then fall to 0,618 retracement and there is nice level to buy. Take profits and stop loss are labelled in the chart. Level where i want buy it is not labelled because it can be variable depends on the last leg of move. This trade is with nice risk-reward-ratio.
3 TRADING STRATEGY'S IN ONE CHART - EXPLAINEDHi Traders,
Please find below three basic trading strategy's that can be implemented to any market on a daily basis.
I have only given out basic information on the ratio's and Fibonacci's of the three strategy's, should you need anymore in depth information don't hesitate to contact me.
2618 Rules Of Engagement:
1. Double top
2. Break & close below neckline / support
3. Sell at 0.618% Fibonacci Retracement
Gartley Pattern Rules Of Engagement:
1. 0.618 Retracement of the X to A leg
2. Atleast a 0.618 Retracement of A to B leg ( can't exceed A )
3. 1.272 Retracement of the B to A leg
4. Buy at the D leg ( 1.272 )
The ABCD Rules Of Engagement:
1. 0.618 Retracement of the A to B leg
2. 1.272 Retracement of the B to C leg
3. Buy at the D leg ( 1.272 )
EURJPY - Double Top - 2618 TradeThere is a 2618 trade on EURJPY with price sitting right at the entry point. This is a countertrend trading setup in which we are looking for the market to move down again to below 120.00.
Entry: 122.550
Stop loss: 124.200
Target 1: 120.600
Target 2: 119.680
Our stop is placed above the high of the double top because at that point the probability of the trade being a winner is far outweighed by the potential losses incurred if the market continues moving up.
If price moves down to 120.600, I will close half the position for profit and move the stop loss to my entry price. The remaining position will either be stopped out for 0 pips or continue down to the second target.
Luke
EURUSD / 15M / 2618% After BACK to BACK WinsPAIR: EUR/USD
TTF: 15M
TRADE: 2618%
NOTE: These are potential Trade opportunities based
on my own personal Analysis.
Thank you,
Star Prosper
Philip Stewart
EURUSD Double top and 2618 trade in playA double top formation has been completed and we have also seen the 0.618 Fib retracement for the 2618 trade play. I believe that this is a good spot to go short with targets and stop losses according to previous structure, please adjust to your trading style.
First target 1.05715
Extended target 1.05255
All comments and feedback are highly appreciated
Potential Stop & Reverse (Cypher to 2618)I put out the Bearish Cypher idea just a couple hours ago. If this Cypher gets filled and rolls over to Target 2 at the 61.8 Fibonacci Retracement, you will have a Bullish 2618 setup. Now the exact entry for the 2618 might be a little different depending on how far the market pushes up, but as long as it doesn't blow out the cypher pattern, you will have a nice 2618 setup.
Now since the Cypher hasn't filled yet, you can also use this to just bracket the market and then wait and see what gets filled first.
As always follow your trading plan.
Good Luck and Good Trading!
USDCAD / 1HR / POTENTIAL 2-618% (Wait)Waiting for Price Action to hit A and then Buy on B.
PAIR: USD/CAD
TTF: 1HR
TRADE: 2-618%
NOTE: These are potential Trade opportunities based
on my own personal Analysis.
Thank you,
Star Prosper
Philip Stewart
Bat pattern (or 2618) at structure level on EURCADHi guys,
i want to share an interesting opportunity that i spotted on EURCAD. In this par on the 4 chart price is consolidating right at a previous daily support level. As such, i seek for trading opportunities down on the hourly chart. Here we can see two different opportunities, both long.
The first is a Bat pattern, the second is a 2618 trade.
Both the entry reasons are valid. but with different risk to reward ratios.
If you have any question or remark, please comment below.
Otherwise, see you in the next chart!
2618 trade on EURUSDHey guys,
on EURUSD we are fronting a structure level on the 4HR chart. On the daily we sitting between previoous resistance and support and so i think it could be a nice spot to get short.
As a conservative trader i want to see price confirmation: last week price created a nice double top with RSI divergence but i didn't short there cause the engulfing candle had a long wick to the down (buying pressure) i waited for another confirmation that finally came in form of a break of structure to the downside.
This is a prerequisite of the 2618 trade that you see above.
Stops above the highs, target 1 at the retest of the lows at 1:1 RR, target2 at the retest of lower lows.
If you have any question, don't hesitate to ask.
Otherwise, see you in the next chart!
EURUSD BEAR BATPossible start of a deeper SELL move...
35+ Pips SELL @ (D) PRZ
Good Luck!
KEEP THE RADARS UP!!!
USDJPY / 1HR / 2-618 + BAT PATTERNPAIR: USD/JPY
TTF: 1HR
TRADE: 2-618 + BAT PATTERN
NOTE: These are potential Trade opportunities based
on my own personal Analysis.
Thank you,
Star Prosper
Philip Stewart
(Daily) Double Top // Neck // Previous Structure at 38% // 2618FX:CADJPY
We have the 1h Bullish Shark forged at structure above the neck, it the price rejects the neck as i am expecting, it can build a 5 waves structure inside this structure as an eventual ABCDE pattern, or a rally into a new higher high, higher close ;)
The Bullish Bat can be forged at confluence between fibs at 88% retracement and also the 38% major fib;
4h Sharks below the neck between the 86.00$ and 85.00$ (search 1h published Shark comments for the picture)
USDCHF,20170111The 2618 pattern and a AB=CD pattern complete at 1.0240.also ,there is a structure resistance here.
so don't hestage to plan a short trade at the moment.
the target will be at the 382 fibo retracement at 1.0040 area.
good luck with care!
USDJPY: Potential 2618 & Advanced Pattern Formation & a voteHappy Friday traders! Great to see everyone survive another week in these wild wild markets! Last night we were looking for a potential bullish 2618 trade to occur here on the USDJPY as a more conservative approach for those looking to get long.
If we get a completion, it would also represent the "C" leg of a potential advanced gartley formation providing traders with the opportunity to ride price up and then stop & reverse for a move back down (assuming it fits your plan).
We had a nice move on the previous 2618, but now it's pretty difficult for me to get a read on what Yen's next move is. There's not clear level of major support present so when talking to traders about this pair, we've been going over using a cautious approach.
Have a great weekend and also, lately I've been taking votes for what pair you'd like me to analyze in my Forex market Preview video. So if you have one that you like shoot it in the comment section below before Sunday!
Wheat 2618 Trade Opportunity 01/11/2016I previously shorted wheat 1 pip from the top and it was a very nice trade (although I closed too early around 3.99 or so). Price bounced from the .382 fib of the larger up move but the price action in the current area looks weak. I am looking to re-open shorts at the levels in the chart but only if no warning signs are present -- big bullish candles, oversold RSI , etc.
This is not meant to be a trading signal so please do not use it as one -- I still have very much to learn as a trader and none of my ideas are trading advice. That said I always appreciate any comments and feedback on my charts and ideas!
EURUSD shortI trust that eurusd is going down, and here is 2618 short setup with nice r.r.r. 2:1. Stop loss and take profit are labelled in the chart.
Daily 2618 on USDJPYHey traders,
another week of trading is starting and i want to share with you one of my analysis.
Here on USDJPY on the daily timeframe we can see we couldn't get through the 118,50 level. Price tested it once, twice and then broke structure to the downside, giving us reason to believe it may head lower in the ensuing days. You can see there's also RSI divergence.
Now i know i want to sell this pair, but how can i do it? Normally, in a lower timeframe i could use 2618 technique but i don't trade directly on the daily chart.
That's why i outlined a box where i know i could have a good risk to reward ratio. In the next days i'm paying attention to the hourly and 4hour chart in order to find a selling opportunity.
I'll let you know if and when i'm getting involved.
Best of luck in the markets!
As usual, if you want to ask something, you can write in the comment section.
Otherwise, see you in the next chart!
USDJPY: Double 2618 Chart From This Week's FMPHere's the chart of the trade that we went over in today's Forex market Preview video. If you didn't see it, make sure you get over to youtube & do so, but what we're looking at is a double 2618 opportunity.
The bigger potential 2618 is located on the daily timeframe while the smaller one exist on the 4 hour.
This chart is of the hourly timeframe where we took a look at how one can dig deeper into the analysis if looking for a more conservative entry at a higher price point.
